Dell Technologies is scheduled to release its second-quarter earnings on Thursday, August 29th. Analysts predict a slight decline in earnings per share but expect revenue to remain strong. The company recently secured a $1 billion settlement for shareholders, and analysts are optimistic about Dell’s future performance, with several rating the stock as a Buy or Outperform.
Canadian cannabis producer Entourage Health Corp. reported a decrease in revenue for the second quarter of 2024, citing new product launches and restructuring efforts. The company remains optimistic about future growth and is focused on expanding distribution channels and strategic partnerships.
Truist Securities analyst Scot Ciccarelli expects Five Below’s second-quarter results to be in line with lowered estimates but with top-line risks. The analyst cited concerns regarding the recent CEO change, self-inflicted issues, and potential for reduced unit growth. Despite recognizing Five Below’s strong product innovation and unit economics, Truist maintains a Hold rating until gaining more clarity on the situation.
Full Truck Alliance Co Ltd (YMM) reported impressive second-quarter results, exceeding revenue expectations and showcasing strong growth across key metrics. The company’s freight matching services saw significant expansion, driven by increased transaction services and continued growth in freight brokerage. Notably, Full Truck Alliance’s adjusted operating income surged by 55.1% year-over-year, demonstrating its operational efficiency. The company also highlighted its robust financial position, with a healthy cash balance and a positive outlook for future growth.
Auxly Cannabis Group Inc. announced its second-quarter financial results, reporting a significant increase in net revenue driven by strong performance in all product categories, particularly the vapor segment where it achieved a leading market share. The company also achieved record gross margin and adjusted EBITDA.
4Front Ventures Corp. (FFNT) announced its financial results for the second quarter of 2024, reporting revenue of $18.7 million. Despite increased competition and inconsistent foot traffic, the company maintained revenue stability through disciplined strategies and strengthened wholesale efforts. 4Front’s Illinois facility saw a slight decrease in revenue due to competitive pressures, but wholesale revenue improved by 10%. In Massachusetts, revenue increased due to strong wholesale demand and supply chain stability. 4Front also highlighted the operational launch of its flagship Matteson, Illinois facility and the opening of a new retail store in Norridge, Illinois.
Restaurant Brands International, a key holding in Bill Ackman’s Pershing Square Capital portfolio, reported mixed second-quarter results. While revenue surpassed estimates, driven largely by Tim Hortons, the stock has not reflected the optimism, with bearish technical indicators suggesting a bumpy ride ahead for investors.
Simply Better Brands Corp. (SBBC) reported a 17% year-over-year decline in revenue for the second quarter ended June 30, 2024, primarily attributed to a decrease in the CBD segment. Despite the revenue dip, the company highlighted progress in expanding its distribution footprint, enhancing its financial position, and strengthening its leadership team.
Starbucks Corp (SBUX) reported disappointing fiscal second-quarter financial results on Tuesday, missing analyst estimates for both revenue and earnings. Revenue declined 2% year-over-year to $8.6 billion, while earnings per share came in at 68 cents, below estimates of 79 cents per share. Comparable store sales fell 4% globally, driven by a decline in transactions. The company ended the quarter with 38,951 total locations globally, after opening 364 net new stores in the quarter.
Visa, Inc. reported strong financial results for the second quarter of 2023, surpassing analyst estimates for both earnings and revenue.
Adjusted earnings per share came in at $2.51, exceeding the consensus estimate of $2.44 by 2.87%. Quarterly revenues reached $8.775 billion, surpassing the consensus estimate of $8.627 billion by 1.72% and marking a 9.89% increase from the same period last year.
Payments volume increased by 8% over the prior year on a constant-dollar basis, contributing to the strong revenue growth.
Looking ahead, Visa expects continued growth in the third quarter, with net revenue growth projected in the low double digits and earnings per share growth in the high end of the low double digits. The company anticipates similar growth for the full year 2024.
